AIG 2007 Annual Report Download - page 57

American International Group, Inc. and Subsidiaries
Part I
Item 1.
Business
Financial Services
American International Group, Inc. (AIG), a Delaware corporation, is
a holding company which, through its subsidiaries, is engaged in a
International Lease Finance Corporation (ILFC)
broad range of insurance and insurance-related activities in the
AIG Financial Products Corp. and AIG Trading Group Inc. and
United States and abroad. AIG’s primary activities include both
their respective subsidiaries (collectively, AIGFP)
General Insurance and Life Insurance & Retirement Services
American General Finance, Inc. (AGF)
operations. Other significant activities include Financial Services
and Asset Management. The principal business units in each of AIG Consumer Finance Group, Inc. (AIGCFG)
AIG’s operating segments are as follows*: Imperial A.I. Credit Companies (A.I. Credit)
Asset Management
General Insurance
American Home Assurance Company (American Home) AIG SunAmerica Asset Management Corp. (SAAMCo)
National Union Fire Insurance Company of Pittsburgh, Pa. AIG Global Asset Management Holdings Corp. and its subsidiar-
(National Union) ies and affiliated companies (collectively, AIG Investments)
New Hampshire Insurance Company (New Hampshire) AIG Private Bank Ltd. (AIG Private Bank)
Lexington Insurance Company (Lexington) AIG Global Real Estate Investment Corp. (AIG Global Real Estate)
The Hartford Steam Boiler Inspection and Insurance Com-
pany (HSB)
Transatlantic Reinsurance Company At December 31, 2007, AIG and its subsidiaries had
United Guaranty Residential Insurance Company approximately 116,000 employees.
American International Underwriters Overseas, Ltd. (AIUO) AIG’s Internet address for its corporate website is
AIU Insurance Company (AIUI) www.aigcorporate.com. AIG makes available free of charge, through
the Investor Information section of AIG’s corporate website, Annual
Life Insurance & Retirement Services Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and Proxy Statements on Schedule 14A and
Domestic: amendments to those reports or statements filed or furnished
pursuant to Section 13(a), 14(a) or 15(d) of the Securities
American General Life Insurance Company (AIG American Exchange Act of 1934 (the Exchange Act) as soon as reasonably
General)
practicable after such materials are electronically filed with, or
American General Life and Accident Insurance Company furnished to, the Securities and Exchange Commission (SEC). AIG
(AGLA)
also makes available on its corporate website copies of the
The United States Life Insurance Company in the City of New charters for its Audit, Nominating and Corporate Governance and
York (USLIFE)
Compensation and Management Resources Committees, as well as
The Variable Annuity Life Insurance Company (VALIC) its Corporate Governance Guidelines (which include Director Inde-
AIG Annuity Insurance Company (AIG Annuity) pendence Standards), Director, Executive Officer and Senior Finan-
AIG SunAmerica Life Assurance Company (AIG SunAmerica) cial Officer Code of Business Conduct and Ethics, Employee Code
Foreign: of Conduct and Related-Party Transactions Approval Policy. Except
for the documents specifically incorporated by reference into this
American Life Insurance Company (ALICO) Annual Report on Form 10-K, information contained on AIG’s
website or that can be accessed through its website is not
AIG Star Life Insurance Co., Ltd. (AIG Star Life)
incorporated by reference into this Annual Report on Form 10-K.
AIG Edison Life Insurance Company (AIG Edison Life)
American International Assurance Company, Limited, together Throughout this Annual Report on Form 10-K, AIG presents its
with American International Assurance Company (Bermuda) operations in the way it believes will be most meaningful, as well
Limited (AIA) as most transparent. Certain of the measurements used by AIG
American International Reinsurance Company Limited (AIRCO) management are ‘‘non-GAAP financial measures’’ under SEC rules
Nan Shan Life Insurance Company, Ltd. (Nan Shan) and regulations. Statutory underwriting profit (loss) and combined
The Philippine American Life and General Insurance Company ratios are determined in accordance with accounting principles
(Philamlife) prescribed by insurance regulatory authorities. For an explanation
of why AIG management considers these ‘‘non-GAAP measures’’
useful to investors, see Management’s Discussion and Analysis of
Financial Condition and Results of Operations.
*For information on AIG’s business segments, see Note 2 to
Consolidated Financial Statements.
AIG 2007 Form 10-K 3